Wise Partners with BBVA Open Platform to Launch a Small Business Banking Experience Focused on Growth

Wise promises a unified banking experience, offering products and services that fit the unique needs of small business to help accelerate their growth.

San Mateo, CA – Aug 1, 2019 – San Mateo-based FinTech startup Wise has announced the launch of its small business banking product in partnership with BBVA Open Platform. Starting today, small businesses on the Wise waitlist will be offered full access to the Wise banking experience on web, iPad, iPhone and Android devices .

Wise, a Techstars NYC 2019 company, offers next-gen business banking features that include an FDIC-insured checking account and Visa debit card in partnership with BBVA USA. In the coming months, Wise plans to roll out additional small business-focused products and services such as payments, invoicing, credit card and point of sale.

Arjun Thyagarajan, Co-Founder and CEO at Wise, calls it groundbreaking. “Never before has there been an easier way for a business to pay and get paid. Payments are faster and fee free, in most cases, which means flexibility and cost-savings to owners. This is the way small businesses will bank in the future. We’re thrilled about our partnership with BBVA because it allows us to bring the Wise Banking experience to millions of small businesses in America. We’re here to change the way small businesses think about banking,” said Thyagarajan.

Speaking about the launch, BBVA Open Platform CEO, Abhishek Gupta said: “We’re delighted that Wise is using BBVA Open Platform’s APIs to offer best-in-class banking to small businesses in the U.S. Wise leveraged Open Platform’s full suite of Banking as a Service (BaaS) products to build an outstanding, fully-compliant small business banking experience. We are very pleased to help Wise innovate and offer what we believe is the future of business banking.”

Earlier in 2019, Wise raised a round of funding led by Mr. Snehal Fulzele, previously CEO at Cloud Lending, Inc, which was acquired by Q2 Holdings, Inc. (NYSE:QTWO). The Fund, Valleyridge Capital, NewRock Partners and other investors participated in the round used to build and launch Wise.

About Wise

Founded in December 2018, Wise Company is a digital banking and growth product for small businesses. Wise Company banking services are provided by BBVA USA. The Wise Company Visa Debit Card is issued by BBVA USA pursuant to license from Visa U.S.A. Wise’s mission is to empower small businesses to grow and get ahead financially. Wise is headquartered in San Mateo, CA with a team of 20 highly motivated individuals. They are working to build a company with laser-sharp focus, using cutting edge technology and providing extraordinary service.